How do I change the rent amount?

Learn how to change the rent amount of a tenancy using Keyhook.

Aaron
Written by AaronLast update 1 year ago

Rent for your tenancies can be changed using the 'Change Rent' option in the drop down menu of your property profile (top right).

Select the new rent amount and the date the increase will take effect. 

Note: Keyhook will only allow you to select a date outside of the 60 days' notice period required by NZ law, and not within 12 months of the last rent increase or the start a tenancy.

Once submitted, Keyhook will send written notice to your tenant and apply the changes on the date selected.

You can decrease rent at any time. If you'd like to decrease the rent within 12 months of the last rent change, please contact the Keyhook for support at [email protected]

The Law:

A landlord must give their tenant at least 60 days' written notice of a rent increase.

Rent of a property can only be increased 12 months after the start date of a tenancy.

Rent cannot be increased if within 12 months of the last increase of rent.

You may increase the rent of a property within 12 months if you have substantially improved that property. 'Improving' a property means you've increased the value of the property to the tenant beyond general or necessary repairs. Examples of improving a property might be adding a garage or building a pool.

There are strict laws when it comes to changing rent for a tenancy. While Keyhook will help you follow these laws, it is important that you understand them yourself. Get more information here.



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